ignored米什金 货币金融学 英文版习题答案chapter 19英文习题

2021年1月21日发(作者：slowly)

Economics of Money, Banking, and Financial Markets, 11e, Global Edition
(Mishkin)
Chapter 19


The International Financial System

19.1


Intervention in the Foreign Exchange Market

1) A central bank ________ of domestic currency and corresponding ________ of foreign assets
in the foreign exchange market leads to an equal decline in its international reserves and the
monetary base, everything else held constant.
A) sale; purchase
B) sale; sale
C) purchase; sale
D) purchase; purchase
Answer:

C
AACSB:

Analytical Thinking

2) A central bank ________ of domestic currency and corresponding ________ of foreign assets
in the foreign exchange market leads to an equal increase in its international reserves and the
monetary base, everything else held constant.
A) sale; purchase
B) sale; sale
C) purchase; sale
D) purchase; purchase
Answer:

A
AACSB:

Analytical Thinking

3) Suppose that the Bank of Japan buys U.S. dollar assets with yen-denominated assets.
Everything else held constant, this transaction will cause ________ in the foreign assets held by
the Federal Reserve and ________ in the U.S. monetary base.
A) an increase; an increase
B) an increase; a decrease
C) a decrease; an increase
D) a decrease; a decrease
Answer:

A
AACSB:

Analytical Thinking

4) Suppose that the Bank of Japan buys yen- denominated assets with U.S. dollar assets.
Everything else held constant, this transaction will cause ________ in the foreign assets held by
the Federal Reserve and ________ in the U.S. monetary base.
A) an increase; an increase
B) an increase; a decrease
C) a decrease; an increase
D) a decrease; a decrease
Answer:

D
AACSB:

Analytical Thinking

5) When the central bank allows the purchase or sale of domestic currency to have an effect on
the monetary base, it is called
A) an unsterilized foreign exchange intervention.
B) a sterilized foreign exchange intervention.
C) an exchange rate feedback rule.
D) a money neutral foreign exchange intervention.
Answer:

A
AACSB:

Reflective Thinking

6) A foreign exchange intervention with an offsetting open market operation that leaves the
monetary base unchanged is called
A) an unsterilized foreign exchange intervention.
B) a sterilized foreign exchange intervention.
C) an exchange rate feedback rule.
D) a money neutral foreign exchange intervention.
Answer:

B
AACSB:

Reflective Thinking

7) Everything else held constant, if a central bank makes an unsterilized purchase of foreign
assets, then the domestic money supply will ________ and the domestic currency will ________.
A) increase; appreciate
B) increase; depreciate
C) decrease; appreciate
D) decrease; depreciate
Answer:

B
AACSB:

Analytical Thinking

8) Everything else held constant, if a central bank makes an unsterilized ________ of foreign
assets, then the domestic money supply will increase and the domestic currency will ________.
A) purchase; appreciate
B) purchase; depreciate
C) sale; appreciate
D) sale; depreciate
Answer:

B
AACSB:

Analytical Thinking

9) Everything else held constant, if a central bank makes an unsterilized ________ of foreign
assets, then the domestic money supply will ________ and the domestic currency will
appreciate.
A) purchase; increase
B) purchase; decrease
C) sale; increase
D) sale; decrease
Answer:

D
AACSB:

Analytical Thinking